Answer:
Step-by-step explanation:
In a business plan, the component that indicates what the business aspires to become in the future is the "Mission Statement."
The mission statement is a concise and powerful statement that outlines the purpose, values, and goals of the business. It serves as a guiding light for the organization and sets the direction for its future growth and success.
A mission statement typically includes the following elements:
1. Purpose: It describes the reason why the business exists and what it aims to achieve. For example, a mission statement for a technology company might be: "Our mission is to revolutionize the way people communicate by developing innovative and user-friendly software solutions."
2. Values: It reflects the core beliefs and principles that guide the business. These values often include integrity, excellence, customer focus, teamwork, and innovation. For instance, a mission statement might state: "We believe in delivering exceptional customer service, fostering a collaborative work environment, and embracing continuous improvement."
3. Goals: It outlines the specific objectives the business wants to accomplish. These goals can be short-term or long-term and should be measurable and realistic. For example, a mission statement might include: "Our goal is to become a market leader in the industry within the next five years by expanding our customer base and increasing our annual revenue by 50%."
By including a mission statement in the business plan, the company communicates its vision to stakeholders, employees, and potential investors. It provides a clear direction and a sense of purpose, helping to align everyone's efforts towards a common goal.